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Stop panicking over sovereign funds

Nicholas Pettifer | NEWS ANALYSIS - January 23, 2008

Standard Chartered's claim that sovereign wealth funds are potentially "irresponsible participants in the world economy" is an overreaction, according to UK counsel.

In an interview yesterday, the bank's chairman Mervyn Davies called for a code of conduct to create more transparency. This was significant given that Temasek, the Singapore state fund, holds an 18% stake in Standard Chartered.

But one UK corporate partner reacted by saying: "I don't understand all this fuss about sovereign wealth funds. Qatari funds have been active in London since the early...

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